SAIL ties up USD 350 million ECB from SBI

SAIL intends to use the commercial borrowing to meet expenditure on capital schemes

GN Bureau | September 15, 2017


#Steel Authority of India   #SBI  
Steel Authority of India Ltd (SAIL) has tied up an external commercial borrowing (ECB) of USD 350 million with State Bank of India (SBI) for a tenure of seven years. 
 
The Maharatna enterprise wants to use the commercial borrowing, which has been arranged by SBI from its Hong Kong branch, towards meeting expenditure on capital schemes including modernisation and expansion. 
 
SAIL is in the final leg of completing its modernisation projects, wherein it aims to diversify its product basket with more value added products and ready to use products customised to the market demands. 
 
It has tied the ECB at the lowest possible spread and the overall cost would work out cheaper than that applicable coupon on term loans and bonds for similar period. This re-emphasises the lenders confidence in the credit worthiness of the company. 
 
SAIL is taking various management initiatives to enhance its operational excellence and overall productivity, performance and products.
 

Comments

 

Other News

Paediatricians call for junking unhealthy food

As children are consuming more and more fast foods and sweetened beverages are becoming, leading to obesity and related non-communicable diseases (NCDs), the Indian Academy of Pediatrics (IAP) has come out with guidelines on such substances. The dietary guidelines under its nutrition chapter

Modi’s forward-looking I-Day speech lays down 5-year agenda

Contrast prime minister Narendra Modi’s first Independence Day speech in 2014 with his latest, the first in the second term, and you know the difference. His first speech was less about future and much about the basic needs like Swachch Bharat (clean India). His speech on Thursday, on the other hand,

Better cities require active citizen engagement

With Mumbai city battling myriad civic issues and annual flooding year after year, stakeholders and experts came together to discuss ways of dealing with these issues as community work. The discussion was held at the TEDxVersova Salon- Vibrant Civic Participation, an independent TED event organized by the

Independence Day: PM underlines new beginnings

Addressing the nation from the ramparts of the Red Fort for the first in his second term, prime minister Narendra Modi highlighted the new beginnings his government has made in recent days, and underlined the hopes of a new India in the making. “Things that could not happen in the past

Kashmir decision “sole prerogative of the country”

India has told China that the legislation changing the status of Jammu and Kashmir was “an internal matter. External affairs minister S Jaishankar, visiting China Monday, told foreign minister Wang Yi that the legislative measures were aimed at promoting better governance and socio-ec

To fight climate change, pay attention also to land

When considering climate change, one of the greatest threats before the humanity, discussions usually focus on air and water, but land too is affected by and in turn affects global warming as much as those two elements. A new report from the Intergovernmental Panel on Climate Change (IPCC), out early Augus



Current Issue

Current Issue

Video

CM Nitish’s convoy attacked in Buxar

Opinion

Facebook    Twitter    Google Plus    Linkedin    Subscribe Newsletter

Twitter